New York, United States , Jan. 25, 2023 (GLOBE NEWSWIRE) -- The Global Optical Sorter Market Size to grow from USD 3 billion in 2021 to USD 4 billion by 2030, at a Compound Annual Growth Rate (CAGR) of 8% during the forecast period. The increasing adoption of food and beverages producers by different industries like food & beverages, waste recycling, mining, and pharmaceutical and others is the key driving factor.
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Optical sorting is the automated process of sorting solid products using cameras, lasers and sensors. These sorters are widely used in a number of industries with huge advantages such as high-quality services, reduction in labour costs, and maximum sorting efficiency at the near end of manufacturing products. The optical sorter also has a wide range of uses in the recycling of materials such as organic waste, plastic, metal, and paper as well as in the mining of industrial minerals and precious metals. The optical sorter has been highly dominating in various manufacturing industries owing to rising adoption in food and recycling activities for reducing process and delivery time, a decrease in the workforce which reduces labour-cost and, and strict government regulations for food packing and manufacturing safety. The optical sorter market is expanding as a result of all these causes.
The hyperspectral cameras & combined sorters segment is dominating the market with the largest market share of 40% over the forecast period.
On the basis of the type segment, the global optical sorter market is segmented into cameras, NIR, lasers, hyperspectral cameras & combined sorters, and others. Among these, hyperspectral cameras & combined sorters are witnessing huge market growth over the forecasted period. The hyperspectral cameras & combined sorters segment is dominating the market with the largest market share of 35% over the forecast period. Owing to factors including the fact that they are widely used and being implemented to address the growing need to complete previously unsolvable sorting tasks. Companies are also developing new systems that include multispectral and hyperspectral imaging systems.
Browse key industry insights spread across 208 pages with 121 market data tables and figures & charts from the report “Global Optical Sorter Market Size, Share, and COVID-19 Impact Analysis, By Type (Cameras, NIR, Lasers, Hyperspectral Cameras & Combined Sorters, Others) By Platform (Freefall, Belt, Lane, Hybrid) By Application (Recycling, Food, Mining) By End User (Food & Beverages, Waste Recycling, Pharmaceutical, Mining, Others) By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa) Analysis and Forecast 2021 – 2030“ in detail along with the table of contents.
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The belt platform segment is witnessing significant CAGR growth over the predicted timeframe.
Based on the platform, the global optical sorter market is segmented into freefall, belt, lane, and hybrid. Among these, the belt platform segment is witnessing significant CAGR growth over the forecast period owing to its wide range of applications in the food, pharmaceutical, recycling, and mining industries. The more effective belt platform, which enables the sorter to focus on objects more effectively to identify minor foreign materials and faults and improve the accuracy of the ejection system, is what drives the demand in the global optical sorter market.
The food application segment is expected to generate the highest revenue over the forecasted period.
On the basis of application, the global optical sorter market is segmented into recycling, food, and mining. Among these, the food segment is expected to generate the highest revenue over the predicted timeframe owing to rising consumer demand for packaged food goods, the food sector is expanding quickly. According to estimates, the rise of the packaged food business would be fuelled by rising labour wages across the globe and rigorous rules and regulations. To prevent food wastage, a number of food processing industries have adopted cutting-edge technology. Such factors are expected to food application segment over the forecasted timeframe.
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The pharmaceuticals segment is anticipated to witness significant CAGR growth over the forecast period.
Based on end users, the global optical sorter market is segmented into food & beverages, waste recycling, pharmaceutical, and mining, and others. In end-user, the pharmaceuticals segment is anticipated to witness significant CAGR growth over the forecast period due to the rising demand during the COVID-19 pandemic and online delivery for sorting essential pharmaceutical medicines and devices.
Asia Pacific region is anticipated to dominate with the largest market share by 2030
Asia Pacific accounted for the largest market share and is predicted to grow with the highest CAGR throughout the forecast interval, owing to the presence of key manufacturers. Asia Pacific dominated the food processing and waste recycling market in 2021 accounting for the major share in terms of value. As such China dominated the market in Asia Pacific optical sorter market in 2021 and is expected to continue to be a dominant market till 2030. Followed by Japan and India is anticipated to grow at a relaxed course due to the rapid growth of technology, and sorting innovations features.
North America is anticipated to experience the fastest increase during the projected timeframe. The introduction of automated technology into the food industry along with the existence of strict laws for food safety in North American nations will expand the market in this area.
Europe is projected to have a moderate CAGR rising demand from waste recycling plants. The adoption of developing technological investments for processing manufacturers is anticipated to drive the region's market growth.
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Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Some of the major market players operating in the global optical sorter market include Buhler Group, Cimbria Heid GmbH, CP Manufacturing Inc, GREEFA, Hefei Meyer Optoelectronic Technology Inc., Key Technology Inc. (Duravant Company), MSS, Inc. (CP Manufacturing, Inc.), National Recovery, NEWTEC, Pellence ST, Raytec Vision S.p.A., Satake Corporation, Sesotec GmbH, STEINERT Global, and TOMRA Sorting ASA.
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